House Corporations

Most Theta Chi chapters have legally incorporated house corporations, whether they own a house or not. While not required, these entities often include all of the initiated members of the chapter - undergraduates and alumni alike - among voting members and representatives on their boards of directors. Typically, corporate bylaws require that the corporation hold an annual meeting and elect a Board of Directors, which is responsible for all obligations of home ownership.

ADVANTAGES OF INCORPORATION

1.  Provides a legal and organized structure;

2.  Provies established method of governing the organization to include the elections of the Board of Directors, membership and voting rights, and providing for established duties and obligations of Officers, Directors and members;

3.  Provides a stable structure;

4.  Limits legal liability of Officers, Directors and members arising out of contract or out of tort (for example, negligence) liability;

5.  Provides as a practical matter, a more readily recognizable entitiy to the business community and state and federal authorities, to include qualifications as a "not for profit" entity at the state and federal level. Theis would include greater acceptability upon application as a 501(c)(7).

LET'S GET STARTED

Starting a House Corporation
Sample Bylaws
Sample Articles of Incorporation
Sample Meeting Agenda

WE'RE A CORPORATION

Now that you are incorporated, review the following documents and all of the documents in the Resource Library. The Resource Library contains House Management documents, sample leases, contract, and policies; and many more documents that can help a house corporation.

House Corporation Legal Checklist
Annual Tax Filing Requirements

Click Here to Update Your House Corporation Information